Satellite company SES sees 5% profit increase

Luxembourg-based satellite company SES is doing well despite the economic crisis, reporting a 5.5 percent increase in revenue, as well as a 5.6 percent EBITDA increase.

22.02.2013

(CS) Luxembourg-based satellite company SES is doing well despite the economic crisis, reporting a 5.5 percent increase in revenue, as well as a 5.6 percent EBITDA increase.

Revenue rose to 1,828 million euros in 2012, compared to just over 1.7 billion in 2011.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased to 1,346.6 million euros in 2012, up from around 1.27 billion the year before.

However, the operating profit decreased from 808.2 million euros in 2011 to 790.5 million euros in 2012, reflecting higher depreciation, resulting from a fleet expansion, and including exceptional charges, SES commented in a press release.

Profits of the group nonetheless increased by 5 percent to 648.8 million euros in 2012 compared to the year before.

Romain Bausch, President and CEO, commented: “2012 was a highly successful year for SES. As German analogue broadcasting was finally switched off, taking 108 million euros out of our revenue, our strong sales pipeline not only overcame this challenge, but delivered absolute top line growth.

“Revenue and EBITDA growth in 2012 was in line with guidance although impacted by the SES-5 launch delay and reduction of capacity on AMC-16, which in total represented 13 million euros of lost revenue.”

Bausch also looked positively in the future saying that the launch of three new satellites this year will fuel growth in 2013 and 2014. The company also has an eye on developing markets, planning to expand its fleet of spacecraft in 2013.